Which of the following are types of regional trade agreements? Select all that apply: • economic union • common market • monetary union . global trade organization
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- A free trade union with a common policy regarding tariffs and measures having an equivalent effect is known as? a. Free trade agreement b. Custom union c. European free trade area d. European unionDefine the term common trade alliance? When does it occur?Use a graph to explain how a customs union results in trade creation
- When products from a high-cost country within a customs union replace imports from a low-cost country that is not a member of the union, this is called: Group of answer choices A. trade development B. trade diversion C. trade deflection D. trade creation1. is there any differences between the theory of multinational enterprises and conventional trade theory?What are the advantages and disadvantages of free-trade vis a vis regional trade agreements such as custom union or an economic union like the EU and what are the differences? Use diagrams in your answer.
- Trade that occurs in a particular industry is called a. intra-industry trade b. inter-industry trade c. inter-sector trade d. intra-sector tradeExplain the difference between Country based trade theories and Industry based Trade Theories. Illustrate your answer with examples of both types of theories.An economic union requires giving up some political autonomy to succeed. What are some examples of political power countries must give up to be members of an economic union?